To attend the G20 conference on November 15-16, Prime Minister Narendra Modi will go to Bali. Health issues following COVID-19, food and energy security, and other topics will be at the top of the discussion during summit meetings in the Indonesian city. This G20 Summit is particularly significant since, beginning on December 1, 2022, India will hold the leadership of the Summit for a year; the transition of the presidency will happen at the Summit in Bali, according to Foreign Secretary Vinay Kwatra at a briefing before the trip. Mr Modi will talk about India's objectives for the G20 presidency, as well as issues of international economic cooperation, the environment, and gender equality.
G20 Leaders' Summit: Bali Summit
During the Bali Summit, PM Modi will hold in-depth conversations on important global concerns like revitalising global growth, environment, health, food and energy security, and digital transformation with other G20 leaders.
G20: India's Presidency
At the Bali Summit's closing ceremony, Indonesian President Joko Widodo will transfer the G20 Presidency to India in significant development. India will formally take over the G20 Presidency on December 1, 2022. Additionally, India will invite G20 participants and other guests to G20 Summit in 2023.
PM Modi will focus on the concept of- "Vasudhaiva Kutumbakam," which emphasises equitable progress and a shared destiny for everyone, which will serve as the foundation for India's G20 Presidency.
G20 Summit 2022: Highlights
- India will formally take up the G20 Presidency on December 1.
- The world leaders attending the November 15-16 summit are U.S. President Joe Biden, British Prime Minister Rishi Sunak, French President Emmanuel Macron, German Chancellor Olaf Scholz, and Chinese President Xi Jinping.
Russian President Vladimir Putin will not attend the Summit.
G20: India's Website, Logo, Theme
PM Modi introduced the website, theme & logo for India's G20 presidency. The lotus in the G20 logo is a "symbol of national heritage," it appears in the India G20 emblem; the nation is also conveying - "One Earth, One Family, One Future"
G-20: Priority Concerns
- Prime Minister Narendra Modi is likely to focus heavily on urgent global issues like the situation in Ukraine and its ramifications.
- Despite the absence of a Biden-Putin showdown, Bali's discussions are likely to be dominated by Russia's invasion of Ukraine and the rising China-West friction and worries over the world's rising prices.
- Leaders are at risk of stopping post-pandemic recovery cycles or sparking crippling financial crises as they deal with wars and geopolitical tensions.
- The nine-month-old conflict has hampered the flow of grain, oil, and natural gas, making food and energy security a major topic of discussion at the Summit. From the most advanced enterprises to the farthest-flung villages in Asia and Africa, the effects of the war are being felt.
- The private sector analysts predict a 1.5% growth in 2023, down from roughly 3% this year and the worst growth since the oil crisis of the early 1980s. The IMF anticipates 2.7% world growth in 2023.
What is G20?
The G20 is a forum of the 20 most developed economies, which account for 66% of the global population, 75% of global trade, and 85% of worldwide GDP. Leaders from Argentina, Australia, Canada, China, the European Union, France, Germany, Italy, Japan, Saudi Arabia, South Africa, South Korea, Turkey, the U.K., and the U.S. will attend the Summit in Bali.
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G7 (U.S., Canada, Japan, the U.K., France, Germany and Italy) is more of a political group. G20 discusses issues of more importance.
Currently, Indonesia is holding the chair of G-20.
Yes, Russia is a member of G20 countries.
G20 is a forum for international cooperation on the most important aspects of the international economic and financial issues.
G-20 summit is scheduled to take place in Nusa Dua, Bali, Indonesia on 15-16 November 2022.
Argentina, Australia, Brazil, South Africa, Turkey, Canada, China, France, Germany, India, Indonesia, Italy, Japan, Republic of Korea, Mexico, Russia, Saudi Arabia, the United Kingdom, the United States, and the European Union.